Piper Sandler Reaffirms Overweight Rating for The Hartford Financial Services Group (NYSE:HIG)

The Hartford Financial Services Group (NYSE:HIGGet Free Report)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $115.00 price objective on the insurance provider’s stock. Piper Sandler’s price target suggests a potential upside of 12.90% from the company’s current price.

Several other research firms have also recently issued reports on HIG. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $108.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Raymond James increased their target price on The Hartford Financial Services Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. downgraded The Hartford Financial Services Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $94.00 to $91.00 in a research note on Monday, January 8th. UBS Group raised their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Roth Mkm raised their price objective on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.93.

View Our Latest Stock Report on The Hartford Financial Services Group

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $101.86 on Monday. The stock’s 50-day moving average is $94.66 and its two-hundred day moving average is $82.78. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group has a 1-year low of $67.01 and a 1-year high of $103.27. The company has a market cap of $30.28 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.48 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.62. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The Hartford Financial Services Group’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 EPS. Analysts forecast that The Hartford Financial Services Group will post 9.94 EPS for the current fiscal year.

Insider Transactions at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 3,337 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $83.00, for a total value of $276,971.00. Following the transaction, the chief executive officer now owns 170,180 shares in the company, valued at $14,124,940. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the sale, the senior vice president now owns 630 shares in the company, valued at $56,536.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Swift sold 3,337 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $83.00, for a total value of $276,971.00. Following the transaction, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,124,940. The disclosure for this sale can be found here. Insiders sold 259,342 shares of company stock valued at $23,256,523 over the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors have recently made changes to their positions in HIG. General Partner Inc. bought a new position in The Hartford Financial Services Group in the 1st quarter worth approximately $59,000. Nomura Holdings Inc. purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $486,000. HighPoint Advisor Group LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $215,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of The Hartford Financial Services Group by 524.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 83,000 shares of the insurance provider’s stock worth $6,672,000 after acquiring an additional 69,713 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $177,000. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Company Profile

(Get Free Report)

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

See Also

Analyst Recommendations for The Hartford Financial Services Group (NYSE:HIG)

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